Brokerages Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $11.67

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given a consensus rating of “Buy” by the ten research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $11.6667.

Several research firms have recently issued reports on LRMR. JPMorgan Chase & Co. assumed coverage on Larimar Therapeutics in a research report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 target price for the company. Wall Street Zen upgraded shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Friday, July 17th. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. Finally, Robert W. Baird lowered their target price on shares of Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th.

Insider Buying and Selling at Larimar Therapeutics

In other news, Director Thomas Edward Hamilton purchased 50,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was bought at an average price of $3.34 per share, with a total value of $167,000.00. Following the acquisition, the director directly owned 714,798 shares of the company’s stock, valued at approximately $2,387,425.32. This represents a 7.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Larimar Therapeutics

A number of large investors have recently made changes to their positions in LRMR. BNP Paribas Financial Markets raised its stake in Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after buying an additional 4,376 shares during the period. American Century Companies Inc. grew its stake in Larimar Therapeutics by 7.8% in the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after acquiring an additional 5,001 shares during the period. Sei Investments Co. increased its holdings in shares of Larimar Therapeutics by 54.5% in the first quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock worth $74,000 after acquiring an additional 5,763 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Larimar Therapeutics by 26.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,008 shares of the company’s stock worth $111,000 after acquiring an additional 6,038 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Larimar Therapeutics by 17.0% in the first quarter. Bank of America Corp DE now owns 47,359 shares of the company’s stock worth $213,000 after acquiring an additional 6,886 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Stock Down 1.8%

NASDAQ:LRMR opened at $3.87 on Monday. Larimar Therapeutics has a 12-month low of $2.71 and a 12-month high of $6.42. The firm has a market capitalization of $402.02 million, a P/E ratio of -1.98 and a beta of 0.74. The stock’s fifty day simple moving average is $3.88 and its 200-day simple moving average is $4.08.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. As a group, equities research analysts expect that Larimar Therapeutics will post -1.5 earnings per share for the current year.

About Larimar Therapeutics

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare diseases using its novel cell penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in Phase 2 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.